Sydney Server Real Estate Blog

Miami’s Sellers’ Market But Not Forever! Understand the Facts

December 12th, 2013

Given the latest market statistics, now is the best time to sell as buyers analyze data. It’s estimated that by 2015, new and shadow inventories will decrease the demand for buyers in Miami’s real estate market. Currently rents, sales prices, and consumer confidence are generally increasing. The market is furthermore benefiting from cash buyers, which makes it an ideal time to place your home for sale.

Construction is also at an historic high in South Florida, adding to future inventory calculations . As demand is predicted to slow over the next two years, the opportunity is presently available to sell at a high price.

South Florida Absorption Rates: 2015 Forecasts

South Florida has an active pipeline of 23,000 new condo units and an estimated 37,600 resale units. This inventory represents an estimated 8-10 year’s supply based on historical sales volume:

Current Condo Inventory – 60,600

Average Monthly Sales – 500 units

Inventory Available – 8-10 Years

Factors Affecting Absorption Rates

Additional factors that will likely affect predicted absorption rates:

Shadow Inventory:  Shadow inventory includes foreclosed homes released by banks due to underwater mortgages, modified mortgages, and delinquent mortgages. It also signifies deferred home listings by homeowners who are waiting until market conditions improve. This inventory is expected to increase in the next few years, further dragging prices down.

Job Growth: Take advantage of the current job growth – There’s a growing population rate in South Florida due to job gains and economic improvements. Miami Herald also reports that the inventory is down by 65% compared to five years ago. This signifies opportunities to sell at higher market rates.

Why wait to sell? Get listed today with Sydney Server Real Estate. Sydney Server Real Estate provides commercial and residential services. Visit Featured Property for more info.

Contact Miami Realtor Sydney Server for more information.

Sources: Miami HeraldCrane SpottersCondo Vultures
Photo Credit: Miami Beach Homes
Daneil Fletcher for SydneyServerRealEstate.com
Brokerage By: Florida Capital Realty

Real Estate Opportunities For Art Basel 2013

December 9th, 2013

Thousands of global art lovers attended Art Basel 2013 and according to The Real Deal, the event presented many opportunities for the real estate industry as developers and brokers got a chance to network and communicate with potential clients.

As many readers are already aware, there’s a flourishing construction boom in Miami. Likewise, Art Basel initially started out in Miami Beach well over a decade ago, but today the event has several satellite shows in several Miami districts.

Last week, Sydney Server Real Estate ran an article highlighting the intricate connection between art and real estate. Today, buyers are more inclined to consider the architect, design and art components of a property prior to making a purchase. Developers have taken note, and are already implementing these components into their masterpieces.

Furthermore, in addition to print advertising, Miami Agents and Brokers now utilize several avenues to market including online and at events like Art Basel. As a buyer or seller, it helps to work with an agent who is well connected. See Sydney Server Real Estate’s marketing plan here.

In the end, Art Basel sets the groundwork for building awareness and momentum of sales on select properties. Potential buyers too, get a firsthand glimpse of what Miami living is truly like.

Sydney Server Real Estate provides commercial and residential services. Visit Featured Property for more info.

Contact Miami Realtor Sydney Server for more information.

Sources: The Real Deal
Photo Credit: Art Observed
Daneil Fletcher for SydneyServerRealEstate.com
Brokerage By: Florida Capital Realty

Rental Condos Proposed For Omni Biscayne Bay

December 6th, 2013

Miami’s Omni Bay area may be home to a new 240 unit rental project by 17 St Partners according to The Daily Business Review. The development firm has accrued at least 11 parcels of land featuring more than 41,000 SF. All the parcels are currently vacant and the partners believe there’s a strong opportunity in the rental market where demands are now high, and supplies low.

17 Edgewater will feature studios, one and two bedroom units, as well as five stories of dedicated parking. There will additionally be a gym, pool, movie theatre and more. It will be LEED certified, and feature numerous green spaces for residents to enjoy. As part of the city’s initiative, the plan incorporates public spaces to improve upon the current district’s infrastructure. In addition, recycled water will be utilized for landscaping, and solar energy secured to power the building, according to a company representative.

The property will furthermore be situated close to Downtown Miami and Midtown, where there are plenty of options to dine and entertain.

Omni Bay District, which is also known as Miami’s Media and Entertainment District, is also undergoing its own transformation – similar to others like the Design District and Wynwood Arts District.

Sydney Server Real Estate provides commercial and residential services. Visit Featured Property for more info.

Contact Miami Realtor Sydney Server for more information.

Property Name: 17 Edgewater
Type: condo
Units: 240
Number of Floors: 40

Developer: 17 St Partners

Sources: The Real Deal, Daily Business Review
Photo Credit: Wikipedia
Daneil Fletcher for SydneyServerRealEstate.com
Brokerage By: Florida Capital Realty

Art And Culture In Miami Beach

December 4th, 2013

In celebration of Art Basel’s 12th Edition in Miami Beach, this article will highlight art and culture in Miami. Some of the top organizations include:

The Wolfsonian – which is a FIU museum showcasing art from the 18th century to 1945. The Wolfsonian is also a member of the acclaimed Smithsonian Museum, and it’s located at 1001 Washington Ave, Miami Beach, FL 33139. For more information call 305- 531-1001.

The New World Symphony – is globally recognized for its work and promotion of the orchestral community. It’s located at 500 17th Street, Miami Beach, FL 33139. The academy accepts the top talents in the industry, and provides students with courses and tools to succeed. For more information call 305-673-3330 or email customerservice@nws.edu.

PAMM – also known as the Perez Art Museum Miami will host a member’s preview in December, 2013. Its moniker was chosen in honor of Miami developer, Jorge Perez’s millions in donations to the project’s funding. The museum’s genre is modern and contemporary art, with 20th and 21st century collections. PAMM is located at 1103 Biscayne Blvd, Miami, FL 33132. For more information call 305 375 3000 or email info@pamm.org.

The Miami City Ballet – is one of the nation’s most accredited dance companies. It’s located in the Art Deco historic neighborhood of South Beach at 2200 Liberty Avenue Miami Beach, FL 33139, where riveting masterpieces are performed, in classic and modern genres. For more information call 305-929-7000 or email admin-fin@miamicityballet.org.

South Beach Wine & Food Festival – is hosted each year by Food and Wine and draws in scores of top celebrity chefs. Intimate dinners, walk around tastings, brunches and lunches, and much more are part of the event. More details can be found online.

Sydney Server Real Estate provides commercial and residential services. Visit Featured Property for more info.

Contact Miami Realtor Sydney Server for more information.

Sources: MiamiBeach.gov, MB Culture
Photo Credit: Breakwater South Beach
Daneil Fletcher for SydneyServerRealEstate.com
Brokerage By: Florida Capital Realty